Saturday, August 8, 2009

Latino cable channel raises funding

Latino Cable Network Si TV Raises $8.7 Million Funding

Latino-centric cable and online network Si TV has raised $8.75 million in funding, according to an SEC filing, with plans to raise nearly $6 million more. The network raised roughly $60 million in funding from big backers like EchoStar (NSDQ: SATS), Time Warner (NYSE: TWX), Columbia Capital and Rho Ventures back when it launched in 2004; we’re trying to confirm who the investors are for this new round.

Si TV has amassed over 19 million cable subscribers since its launch; the network also has robust online and mobile programming, including syndication deals with sites like Hearst and carriers like Verizon. But Compete stats show that traffic to proper has slipped from a high of over 500,000 uniques last year, to just around 150,000 last month—so the new funding could feasibly be used for a site redesign or acquisition of a more popular online property. Its biggest competitor is MTV’s bi-lingual digital and cable property MTV Tr3s.

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